China ready to impose tariffs on $60 bn worth of US goods in response to trade threats

[oprih]

Nice, hopefully China will ban apple too, an overrated phone that steals from the customers through it's inflated price.

 

[TaiShang]

Brilliant! Now I Know why you are India's brightest think tank on PDF!

Even Indians try stuff in their own capacity. Some 82people think what the US takes from China will hand out to SP12. Pathetic.

***

India to impose tariffs on some US goods in September

CGTN
2018-08-05 08:11 GMT+8

India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18.

New Delhi, incensed by Washington’s refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some US products, including almonds, walnuts and apples, and later delayed the move.

Officials from New Delhi and Washington, including US Secretary of State Mike Pompeo and Defense Secretary Jim Mattis, are scheduled to hold a series of meetings including strategic talks with their Indian counterparts in September.

Trade differences between India and the United States have been rising since President Donald Trump took office. Bilateral trade rose to 115 billion US dollars in 2016, but the Trump administration wants to reduce its 31-billion-US-dollar deficit with India, and is pressing New Delhi to ease trade barriers.

India, the world’s biggest buyer of US almonds, in June decided to raise import duties on the commodity by 20 percent, joining the European Union and China in retaliating against Trump’s tariff hikes on steel and aluminum.

It had also planned to impose a 120 percent duty on the import of walnuts in the strongest action yet against the United States.

India has proposed to buy petroleum products from the US to help narrow the trade deficit. The United States has also emerged as a top arms supplier to India and US companies are bidding for military aircraft deals worth billions of dollars.

 

[Jlaw]

Even Indians try stuff in their own capacity. Some 82people think what the US takes from China will hand out to SP12. Pathetic.

***

India to impose tariffs on some US goods in September

CGTN
2018-08-05 08:11 GMT+8

India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18.

New Delhi, incensed by Washington’s refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some US products, including almonds, walnuts and apples, and later delayed the move.

Officials from New Delhi and Washington, including US Secretary of State Mike Pompeo and Defense Secretary Jim Mattis, are scheduled to hold a series of meetings including strategic talks with their Indian counterparts in September.

Trade differences between India and the United States have been rising since President Donald Trump took office. Bilateral trade rose to 115 billion US dollars in 2016, but the Trump administration wants to reduce its 31-billion-US-dollar deficit with India, and is pressing New Delhi to ease trade barriers.

India, the world’s biggest buyer of US almonds, in June decided to raise import duties on the commodity by 20 percent, joining the European Union and China in retaliating against Trump’s tariff hikes on steel and aluminum.

It had also planned to impose a 120 percent duty on the import of walnuts in the strongest action yet against the United States.

India has proposed to buy petroleum products from the US to help narrow the trade deficit. The United States has also emerged as a top arms supplier to India and US companies are bidding for military aircraft deals worth billions of dollars.

It won't go through once a US rep go to India and privately threatened them. These cowards will back off.

 

[IsaacNewton]

Trade war is overblown. The stock market is reacting violently but it is a small portion of both countries economy.

Trump just gave 34b to Israel lol. That's more than the trade war.

 

[TaiShang]

Trade war is overblown. The stock market is reacting violently but it is a small portion of both countries economy.

Trump just gave 34b to Israel lol. That's more than the trade war.

Agreed, especially on the US side, the real impact of the tariffs are much less than what has been touted. Usually, it is reflected on the prices by the importers. US gov't can place tariff, but it cannot stop businessmen from doing business with certain adjustments. In the end, import business is a business, as well, and there is lots of interests involved.

Because US investment in China (began in the 1990s) is much bigger than China's investment in the US (started much later and intervened by the US gov't more often). Hence, tariffs often mean a second taxation on some US (and foreign) business operating in China.

***

It won't go through once a US rep go to India and privately threatened them. These cowards will back off.

Indians promised to start imposing tariffs on US in September. Let's see, if they will be able to carry on. After all, Trump hates the 31 billion USD trade surplus they have with the US.

Indians wanted to lay smart and promised to buy some more oil/natural gas from the US, but Trump was not duped. He wants Indians to buy US goods. But, if India does that and stop having trade surplus with the US, their deficit-prone foreign trade will suffer even more and their non-existent manufacturing will become even smaller and more primitive.

 

[somsak]

nice.

Harley-Davidson begins to shut down Kansas factory

CGTN
2018-08-04 10:21 GMT+8

US motorcycle maker Harley-Davidson on Friday began to shut down its factory in Kansas City and shift its production to Thailand to avoid EU retaliatory tariffs.

About 180 workers are ready to complete their final work and leave the factory that has been in operation for 20 years, while other staff will stay until next year when the factory is completely shut down.

Harley-Davidson will also transfer its three models currently manufactured in Kansas City to the Pennsylvania factory, leaving 800 workers in Missouri unemployed.

The US motorcycle maker on June 25 decided to move some of its overseas production for EU destinations from US factories to Thailand and other countries to avoid possible EU tariffs of up to 100 million US dollars.

It expects to take at least nine to 18 months to complete additional investments in overseas production facilities.

As a countermeasure against the US steel and aluminum tariffs imposed earlier June, the EU increased US motorcycle tariffs from 6 percent to 31 percent.

Hit by the trade war, Harley-Davidson reported a 6.4-percent profit decline in the second quarter.

https://news.cgtn.com/news/3d3d414e77596a4d79457a6333566d54/share_p.html

Tariffs are working for Thailand

@somsak



These are initial counter measures. China said it reserves rights to introduce other counter-measures as is required.

It is said that the actual impact of 200 billion tariffs will be about 50 billion on actual China exports. -- because a portion of the China exports that are subject to tariffs is done by US companies.

On the other hand, all off the exports from the US are done by US companies. Hence, China's counter-measures can achieve a 1:1 impact.

Besides, so far, only Harley Davidson decided to leave...

 

[Place Of Space]

200 billion response by mere 60 billion?and already china is finished with 110 billion total.There will be nothing to put tariffs on if trump does another 250 billion and puts tariff on whole 500 billion.At that point china lose the trade war,as of now they still have a chance because of parity.Better to negotiate now.Both sides will suffer,but China cant win this if it gets 25% tariffs on 500 billion.That would cause global mass damage,but also move many supply chains out of china.

500 billion * 40% = 200 billion
130 billion * 40% = 52 billion

Generally saying, the ratio of tariffs put on goods are at the same level.

 

[TheTruth]

200 billion response by mere 60 billion?and already china is finished with 110 billion total.There will be nothing to put tariffs on if trump does another 250 billion and puts tariff on whole 500 billion.At that point china lose the trade war,as of now they still have a chance because of parity.Better to negotiate now.Both sides will suffer,but China cant win this if it gets 25% tariffs on 500 billion.That would cause global mass damage,but also move many supply chains out of china.

China makes the US goods that they buy. Doesn't show up in trade. China is the top market by far for almost everything, they can always put a gun to the heads of any companies that want to leave because of tariffs. Our market or theirs.

 

[AUSTERLITZ]

China makes the US goods that they buy. Doesn't show up in trade. China is the top market by far for almost everything, they can always put a gun to the heads of any companies that want to leave because of tariffs. Our market or theirs.

Nope.China assembles more than make.Half of China's trade is processing trade.Assembly can be shifted to neighbouring SE asain countries,but at a cost.Both will be hurt,but china more because it loses more trade.US can shift to buying low cost consumer goods from other sources over time.And the american market is still the worlds most important though china is catching up.

 

[haidian]

Assembly can be shifted to neighbouring SE asain countries,but at a cost.

You got to have enough skilled labor force, reliable power supply, complete supply and delivery chain, superb transportation facilities like highways, airports and seaports... It's never easy as you stated, otherwise those industries would have left China decades ago.

 

[TheTruth]

Nope.China assembles more than make.Half of China's trade is processing trade.Assembly can be shifted to neighbouring SE asain countries,but at a cost.Both will be hurt,but china more because it loses more trade.US can shift to buying low cost consumer goods from other sources over time.And the american market is still the worlds most important though china is catching up.

As you said, they assemble. It's not much money. It was nice for for a few years, but now it's not necessary, China is moving up the value chain.

The US will never find another country that can take China's place. No one else has the combination of scale, the know-how, work ethic, policy initiatives, coordination, geography, market and logistics. Americans will just be forced to make do with less.